Orsted partner to sell wind farms and take US$1.6bil charge

Changing winds: Turbines operated by Orsted at the Block Island Wind Farm off the coast of Block Island, New York. Eversource owns stakes in two joint ventures with Orsted that are developing the South Fork, Revolution and Sunrise sites east of Long Island. — AP

NEW YORK: Eversource Energy is in advanced talks to unload its share in three offshore wind projects that it planned to build with Orsted A/S, and will take a fourth-quarter charge of as much as US$1.6bil.

The US firm is in exclusive negotiations to sell its 50% stakes in the developments to a “global private infrastructure investor”, it said in a statement.